CONTACT

Saskatoon real estate week in review: February 7-11, 2011

Saskatoon real estate sales activity finally caught up with the hype on the street as unit sales blasted higher this week. Local agents reported eighty-three firm house and condo sales for a weekly gain of thirty-two properties and trumped sales recorded during the same week last year by nineteen.


New listings increased by four units compared to last weekwith 130 new offerings finding their way to the Saskatoon MLS® system to record a year-over-year gain of thirty-two properties.


Click the image for a larger version of the graph.


The total inventory of residential listings on the multiple listing service® continued to push higher, once again breaking into four digit territory and closing the week with precisely 1,000 properties showing an active status. This week’s close represents a gain of twenty-eight homes from last week and an increase of 234 compared to what was available at this time in 2010. Today the system shows 550 active single-family home listings and 403 condominiums. At this time last year, those totals stood at 413 and 307 respectively.


Click the image for a larger version of the graph.


Listing cancellations and withdrawals came in at just eighteen properties. Only three of those were immediately returned for another run at the market. Thirty-six Saskatoon home sellers adjusted their asking price this week.


Prices slipped across the board as activity increased in Saskatoon’s more affordable west end neighbourhood’s this week. The median price for the week slipped nearly thirty-eight thousand dollars to just $280,000. The average sale price for the week was $280,560. That’s the lowest figure we’ve seen since the first week of December. The six-week average slipped nearly six thousand dollars from last week to $299,574 recording it’s first close below $300,000 since the last week of August, but it still managed to maintain annual gains of more than twenty thousand dollars. The four-week average selling price slid eight thousand dollars from last week to $288,000 for a gain of less than twelve thousand dollars over the same week in 2010.


Click the image for a larger version of the graph.


The percentage of overbid sales slipped slightly from last week as just six Saskatoon home sellers found a buyer willing to pay more than full price. The average overbid edged slightly higher to $11,419. Two more lucky sellers got their full asking price. Seventy-five of eighty-three deals closed at a price that was less than asking while the average underbid shrank to just $7,695, a discount of roughly 2.6%.


Click the image for a larger version of the chart.


Our Saskatoon home search tool offers MLS® listings from all real estate brands with the most detail and information available anywhere. Check it out here.


I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.


Norm Fisher
Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Posts By Date
The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative